Conti Sees Stagnant Car Production in Europe, US

Continental AG says automobile production in Europe and the US will remain stagnant next year, which is why it is stepping up expansion in Asia. The tyre and auto part maker said growth in emerging markets like China, India and Indonesia is important to its continued success.

Conti CEO Elmar Degenhart said estimates that global car output would rise to 73-75 million vehicles next year were quite aggressive. “Our planning is not as aggressive,” he said, who noted that Conti is planning for 68-million vehicle output.    Tire Review